For a mere $2090 (plus tax), you can use Avocent's HD Emerge MPX1000 HD Multipoint Extender to bring HD-content to any room in your house. The Emerge supports up to 720p, and requires an MPX100T Transmitter ($1095) and an MPX100R Receiver ($995) in order to work.

Cool if you're really keen on watching the same thing in multiple rooms—in HD no less—but for two big ones, you could easily just buy two HD DVD or Blu-ray players and be done with it.